Asian Currencies Mostly Weaken Amid Higher U.S. Treasury Yields
Dow Jones
50 mins ago
0224 GMT - Asian currencies mostly weaken in Asian trade, after the 10-year U.S. Treasury yield surged above 5% on Monday before settling at 4.960%. The rise in Treasury yield was driven by persistent inflation concerns, elevated oil prices, large government borrowing requirements, and heavy corporate issuance associated with artificial intelligence investment, Commerzbank Research analysts say in a note. The 5% level is psychologically and economically significant, they note, as sustained yields above the level would further tighten financial conditions. The U.S. dollar rises 0.3% to 154.82 yen and 0.45% higher at 1353.14 won, while the Australian dollar is 0.15% lower at US$0.7126, LSEG data show.
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